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Transneft’s operating results for H1 2021

Date of publication: 8 July 2021

In H1 2021, Transneft continued to recover the volumes of oil and petroleum products transported via its system.

In Q2 2021, the average daily volumes of oil transported increased by 4.9% as compared to Q1 2021 level. Compared to H2 2020 level, the average daily volumes of oil transported increased by 3.8% in H1 2021.

However, oil transportation volumes for H1 2021 still suffer a decrease y-o-y caused by the oil production cuts, which have been in effect in Russia since the beginning of May 2020; the volumes declined by 5.1% compared to H1 2020 and by 7.5% compared to H1 2019. 

Oil Transportation

For H1 2021, oil transportation via the Transneft system amounted to 217.6 MMT, demonstrating a decrease of 5.1% y-o-y. At the same time, in Q2 2021, oil transportation increased by 2.8% y-o-y and amounted to 112.0 MMT.

Oil supplies to Russian refineries for H1 2021 remained almost unchanged compared to H1 2020, amounting to 118.6 MMT, and in Q2 2021 showed an increase of 7.8% y-o-y up to 59.7 MMT.

For H1 2021, oil supplies to non-CIS countries totaled 91.6 MMT, demonstrating a decrease of 13.3% y-o-y.

In Q2 2021, oil supplies to non-CIS countries amounted to 48.7 MMT, declining by 2.2% y-o-y.

Petroleum products transportation

The transportation of petroleum products for H1 2021 decreased by 2.5% y-o-y, amounting to 19.2 MMT, while 76% of the total transportation volume of petroleum products were exported, and 24% were supplied to the domestic market. In Q2 2021, the total transportation volume of petroleum products increased by 6.5% y-o-y.

For H1 2021, 17.1 MMT of diesel fuel, 1.0 MMT of motor gasoline and 0.9 MMT of kerosene were accepted into the Transneft system for transportation via petroleum product pipelines, including 8.3 MMT of diesel fuel, 0.6 MMT of motor gasoline and 0.6 MMT of kerosene in Q2 2021.

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